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bbc.co.uk
Why Tesla has been caught up in a massive car recall in China
The country's biggest ever car recall affects more than four million vehicles made by Tesla, XPeng, Xiaomi and other firms.
cnbc.com
Trump's Saudi nuclear deal reaches Congress as experts warn of proliferation risk
Some Democratic lawmakers and nonproliferation advocates have criticized the pact for not including a permanent prohibition on enrichment or reprocessing.
cnbc.com
From military alliance to economic partnership: How Trump is redefining U.S.-South Korea ties
Trump last Sunday instructed the Pentagon to cut military drills because they were "costly" and send "inappropriate and hostile" signals to North Korea.
cnbc.com
HP partners with U.S.-blacklisted Huawei for licensing the Chinese company's WiFi tech
It's a sign of adoption of Huawei technology outside China, despite the U.S. restricting the company from working with American suppliers such as Google.
bbc.co.uk
Musk's rocket firm SpaceX to build $100bn launch facility
It will be the firm's biggest site yet and aims to send rockets to space in 2029.
cnbc.com
Oil falls on easing concerns of renewed tensions as the U.S. pivots to economic pressure on Iran
Oil fell Wednesday, as investors continue to assess the U.S. pivot toward economic sanctions rather than military strikes to add pressure on Iran.
cnbc.com
Sen. Darline Graham, Trump's pick for South Carolina Senate, wins GOP primary
Sen. Darline Graham on Tuesday defeated Rep. Ralph Norman, winning the GOP nomination for a South Carolina Senate seat.
cnbc.com
CNBC Daily Open: The U.S. is flexing its economic power — drawing retaliation
Washington has launched an economic offensive against Iran and Canada — the two countries one would normally not lump together.
cnbc.com
Amazon service Bezos once called 'artificial artificial intelligence' is shutting down
Mechanical Turk launched in 2005 as a way to farm out tasks that are easy for humans to complete but too challenging for computers.
bbc.co.uk
AI gold rush draws crypto firms away from Bitcoin
The price of Bitcoin has risen in August but is still far below its peak almost a year ago - and companies are refitting their mines.
bbc.co.uk
Firms scramble for battery power in Spain and Portugal
After last year's massive power failure Spanish and Portuguese firms are buying battery back ups.
bbc.co.uk
Back to school: How to save on uniform costs
From baby banks to supermarket deals, there are many ways parents can ease the back-to-school burden.
bbc.co.uk
Winter energy prices expected to rise to three-year high
Millions of households will be affected by an increase in the energy price cap by regulator Ofgem.
cnbc.com
SpaceX plans to build a $100 billion spaceport in Louisiana
SpaceX plans to establish its Starbase, LA in Vermilion Parish, which will "support thousands of launches annually."
cnbc.com
Canada unveils retaliatory tariffs on about $20 billion of U.S. goods
Canadian trade negotiators left the U.S. last week after failing to clinch a trade deal that would stop President Donald Trump's new tariffs from taking effect.
cnbc.com
OpenAI data center chief Chris Malone is out, the latest in a string of executive exits
An OpenAI spokesperson said the company "recently reorganized our infrastructure organization to support the scale and pace of our work."
cnbc.com
Iran and Oman discuss joint shipping route in Strait of Hormuz and mine clearing mission
Iran and Oman on Tuesday discussed a proposal to establish a jointly managed shipping route through the Strait of Hormuz.
cnbc.com
Gold hovers near three-month high on dollar weakness, Treasury bond buyback plans
Gold prices fell Tuesday after rising to their highest in over three months.
theguardian.com
Burnham mulls insolvency law shake-up to help bring utilities under public control
Exclusive: Rules on special administration seen as potential ‘roadblock’ to reshaping how UK’s essential services are runAndy Burnham is considering ripping up the country’s insolvency laws to make it easier to bring key utilities such as Thames Water under public control.Sources have told the Guardian the prime minister is considering a range of options as he seeks ways of delivering on his promise to radically reshape the way England’s water and Britain’s energy companies are run. Continue reading...
theguardian.com
The Guardian view on Trump’s economic threats: bullies can overplay their hand | Editorial
Tariffs on Canada, threats against Iran’s partners and bond market intervention show a president weaponising US power while making Americans poorer at homeThree moves in the last week have exposed the limits of Donald Trump’s economic bullying. The US slapped 50% tariffs on another $20bn of Canadian goods – then threatened the same rate on the cars, trucks, parts and steel that America Inc depends on. On Monday, the Treasury secretary, Scott Bessent, menaced Iran’s trading partners with exclusion from the US financial network, hoping that coercion can deliver what months of war have not. And as the costs of war, tariffs and pro-billionaire tax cuts helped send US bond yields higher, the Treasury stepped in to tame long-term rates. These are not contradictory policies but a gamble: that US economic power can be repeatedly weaponised without reducing others’ willingness to depend on it.The Trump administration’s “D-day” sanctions are potentially the most consequential because they expose the scaffolding of American financial power. While markets shrugged off the immediate threat, that calculation might change were the US to target a major Chinese refinery or bank. Such an escalation could spark a trade war with Beijing. The US has leverage. But China has pressure points – especially farmers in Republican states – that make using it costly. In the long run, there is a price to pay. Nations hold one another’s currencies partly because they trust the political relationship. Mr Trump is testing what happens when they don’t. Continue reading...
cnbc.com
Stanley Druckenmiller leads doubters who think Bessent's bond ploys will fail
The bond market interventions have generated a modest decline in yields along with a growing chorus of derision.
theguardian.com
‘They make life much easier’: AI-powered shopping trolleys go on trial in Lancashire
Customers give their verdicts as a Morrisons store becomes first in UK to test trolleys that scan, weigh and tally costsLancashire has been the site of many British innovations throughout history, from the spinning jenny, which transformed textile production, to the creation of jelly babies.Now it has welcomed another first: AI shopping trolleys. Continue reading...
cnbc.com
HHS plans new FDA deputy commissioner roles for technology and drugs, sources say
HHS plans to name two deputy commissioners for technology and drugs, said two sources familiar with the matter.
cnbc.com
Bitcoin price extends gains, briefly tops $81,000 as crypto rally gathers pace
Bitcoin briefly surged past $81,000 as renewed inflows into spot bitcoin ETFs and improving risk appetite extended the recent crypto rally.
theguardian.com
Canada announces 50% retaliatory tariffs on hundreds of US imports as trade war escalates – video
Announcement of tariffs on $20bn worth of US goods follows through on Mark Carney's vow to match US tariffs 'dollar for dollar' Continue reading...
theguardian.com
Canada announces retaliatory tariffs on wide range of US goods
Ottawa’s ‘focused response’ to levies imposed by Donald Trump on Canadian products comes after trade talks collapsed last weekUS politics live – latest updatesCanada has announced it will impose tariffs on a wide range of key American industries including cosmetics, dairy, wood products and outdoor equipment in the coming weeks, as it retaliates roughly “dollar for dollar” against levies imposed by the US.In a strong Canadian countermove to tariffs levied by Donald Trump, which took effect on Saturday after trade talks collapsed the day before, Canada’s finance and industry ministers on Tuesday called the measure a “focused response” to what they see as unfair trade practices. Continue reading...
cnbc.com
World Liberty Financial CEO Zach Witkoff says success of stablecoin silences charge of Trump cronyism
Zach Witkoff, CEO of Trump-linked World Liberty Financial, said conflict-of-interest concerns related to the Trump family are misplaced.
cnbc.com
China needs U.S. dollars but is building a hedge against Washington’s sanctions
The U.S. can pressure Chinese banks over Iran through access to its financial system, while Beijing is building alternatives such as CIPS.
theguardian.com
London bus drivers resume strike over heatwave working amid fears over air con deal
Drivers concerned that bus operator’s offer to retrofit cabs on 730 buses will not be complete by next summerLondon bus drivers have resumed strike action over having to work in high temperatures, amid fears that proposed improvements to air conditioning will not be complete by next summer.About 1,500 members of the Unite union working across north London and Essex are taking part in the four-day strike from Tuesday to Friday, after industrial action earlier this month. Further stoppages are planned for the coming weeks. Continue reading...
theguardian.com
VW workers boo boss as he urges them to ‘pull together’ amid job cuts
Oliver Blume faces workforce at German HQ as carmaker struggles against Chinese competition and US tariffsThe chief executive of Volkswagen has faced boos and whistles of protest at the company’s headquarters after telling thousands of workers that a comprehensive reorganisation, which could include job losses and factory closures, is vital for its future.As Oliver Blume urged more than 10,000 workers on Tuesday to “pull together”, saying drastic restructuring measures at the struggling manufacturer were essential, they held up banners and shouted slogans, including: “Our jobs are not your balance sheet adjustments”. Continue reading...
theguardian.com
‘Economic D-day’: How desperate is Trump to end Iran war? - The Latest
The White House has threatened sanctions on any country that trades with Iran in another bid to economically isolate the country, as US military efforts falter. Launching what he called Operation Economic Outcast, the US Treasury secretary, Scott Bessent, compared it with D-day. China, Iran’s biggest trading partner, has already signalled that it will not cooperate with Trump’s attack on the Iranian economy. Lucy Hough speaks to Julian Borger, senior international correspondent Continue reading...
cnbc.com
The 'debasement trade' returns after Bessent bond maneuver. Crypto and gold are back in style
Concern over the size and the cost of U.S. government spending has given new life to the debasement trade.
bbc.co.uk
Who does Iran trade with and what could Trump's 'economic D-Day' mean?
Iran is no stranger to US sanctions and has developed deep economic ties with several countries.
theguardian.com
New York business group sues Mamdani over city-owned grocery stores plan
Multicultural Business Coalition sues New York City mayor, alleging plan for city-run stores will harm smaller grocersA New York City business group sued mayor Zohran Mamdani on Monday over his plan to create five municipally owned grocery stores.The Multicultural Business Coalition, which says it represents hundreds of small supermarkets, filed two lawsuits in New York county supreme court on Monday, arguing that the plan violates the civil rights of smaller, immigrant- and minority-owned businesses. The group argues that smaller stores would be unable to match the discounts offered by the city grocery stores and “therefore, will be put out of business,” according to the lawsuits. Continue reading...
cnbc.com
Nvidia’s dependence on hyperscalers faces big test in earnings report
Nvidia is trying to expand its customer base by creating new financing options that allow for more clients to purchase its costly systems.
theguardian.com
Three years after his death, the Met goes after Mohamed Al Fayed. As for his enablers – well, you can’t rush things, can you? | Marina Hyde
The crimes he stands accused of required whole armies of facilitators. Don’t the victims deserve to see them face justice too?How reassuring to learn that police investigating claims of sexual assault against Mohamed Al Fayed have handed a file to the Crown Prosecution Service, a mere three years after the former Harrods owner’s death at the age of 94, and just decades after the first survivors made reports of abuse. The CPS has said it won’t provide a timescale for any decision, to which we might remark: no shit. With this case, the one thing you could never accuse any of the authorities of is being bound by anything approaching a timescale.The story does, however, certainly have scale. So far, more than 400 allegations including rape, sexual assault, sexual exploitation and human trafficking have been made against Al Fayed by at least 156 women – abuse he got away with, having died without any charges ever being brought against him. The claims span the years 1977 to 2014. At least 21 women came forward while he was alive, and there have been extraordinary rundowns in news articles and documentaries about all the alleged enablers of his wicked behaviour, from lawyers to mouthpieces to security henchmen to the doctors who carried out “purity examinations” on his young female PAs. Continue reading...
theguardian.com
‘An enchanting oasis’: Venetian island with Napoleonic fort up for sale
Smaller than a football pitch, Crevan has a rich history – but how rich its buyer needs to be is strictly under wrapsAn island in the Venice lagoon boasting a Napoleonic fort and lush gardens is up for sale.Described as an “enchanting oasis of peace and beauty”, Crevan offers a “spectacular view” of Venice’s main island, but is far from its crowds. Continue reading...
cnbc.com
Apple announces new Mac Mini and Mac Studio models with AI upgrades
"With these frameworks and new chips, developers can run and fine-tune large AI models locally on their Mac," Apple said.
bbc.co.uk
More than 70,000 social and affordable homes to be built across England over 10 years
Funding has been granted to Greater Manchester, the West Midlands and West Yorkshire as well as £6bn for London.
cnbc.com
SEC reportedly subpoenas Wall Street banks over AI hedge fund Situational Awareness's near collapse
The SEC is seeking information from major Wall Street banks about trades and financing tied to AI-focused hedge fund Situational Awareness.
theguardian.com
Creatine: is there truth behind the hype? – video
Creatine has become the go-to supplement for anyone wanting to give their fitness a boost and build muscle. It’s even made it out of the gym, with influencers touting its cognitive benefits. But what’s the science behind creatine, and does the evidence stack up? Madeleine Finlay hears from science editor Ian Sample and Dr Justin Roberts, professor of nutritional physiology at Anglia Ruskin University Continue reading...
theguardian.com
Lego sales jump 21% to nearly £5bn, helped by World Cup and F1 ranges
Danish toymaker also scores success with KPop Demon Hunters, Star Wars and botanicals productsLego sales have risen by more than a fifth as tie-ups with the football World Cup, Formula One and the hit film KPop Demon Hunters as well as its flower-based and Star Wars kits drive demand.The toymaker said its revenues had increased by 21% to 41.9bn Danish kroner (£4.8bn) in the first six months of 2026, driven by strong growth in the Americas, Europe and the Asia-Pacific regions, offsetting stalled sales in China. Continue reading...
bbc.co.uk
Jersey earnings rise by 1.2% after inflation
Statistics Jersey says the increase is "slightly lower" than the long-term annual average.
cnbc.com
OpenAI bans Russian ChatGPT accounts used in covert misinformation campaign
The AI company said the incident "illustrates how influence actors can use AI as a supporting tool within a broader effort to manufacture authority."
theguardian.com
Two planned datacentres will have higher UK carbon emissions than ExxonMobil, analysis finds
Exclusive: Buckinghamshire and Bedfordshire sites predicted to emit 4.5m tonnes a year when fully runningThe carbon emissions from just two planned datacentres in England will exceed all of the fossil fuel company ExxonMobil’s UK emissions, analysis has revealed.Experts have said this demonstrates the “serious threat” datacentres pose to the UK’s legally binding climate goals. Continue reading...
cnbc.com
New Delhi draws in $73 billion in 11 weeks, powered by special deposits for non-resident Indians
India has attracted inflows of $73 billion in 11 weeks, driven mostly by foreign currency bank deposits made by non-resident Indians.
cnbc.com
Ukraine is targeting Russia’s retail giants. Ozon is the next economic pressure point
Kyiv says the attacks are aimed at disrupting Russian supply chains and inflicting further pressure on Putin's wartime economy.
bbc.co.uk
OnlyFans owner was paid over $700m before his death
The site hosts a range of subscription-based content from cooking to fitness videos, but it is best known for pornography.
theguardian.com
Fishy business: who really profits when sardines go viral? - video
Once a cheap store-cupboard staple, sardines are fast becoming a luxury food item. Last year, #SardineGirlSummer saw influencers promoting the health benefits of sardinemaxxing, while sardinecore became the must-have fashion trend. Now, demand is accelerating just as Morocco’s sardine stock has collapsed, causing shortages on supermarket shelves. The Guardian travels to Matosinhos in Portugal, the cultural home of the sardine industry, to investigate who is profiting from the boom, how it has affected local fishermen, and what sustainability looks like in an era of global heating Continue reading...
theguardian.com
US Treasury’s Scott Bessent ‘will lose’ battle with bond markets, former mentor warns
Trump ally should cut budget deficit rather than try to suppress bond yields, says billionaire Stanley DruckenmillerScott Bessent’s attempt to calm the bond markets and push down America’s cost of borrowing have attracted a rebuke from the US Treasury secretary’s former mentor.The billionaire investor Stanley Druckenmiller, who worked with Bessent at George Soros’s fund management firm in the 1990s, has warned that his former pupil is courting danger by trying to suppress US bond yields. Continue reading...
cnbc.com
BlackBerry CEO says robotics is one of its fastest-growing businesses
BlackBerry CEO John Giamatteo says robotics is one of QNX’s fastest-growing businesses as the company expands its software beyond cars.
theguardian.com
From Scotland, I look at England’s water privatisation disaster. I wish you had done what we did | Devi Sridhar
Listening to debate, you’d think bringing English water companies into public ownership was a radical socialist idea. Here, we call it common senseProf Devi Sridhar is chair of global public health at the University of EdinburghEvery few months, there are more shocking headlines about the behaviour of England’s water companies. The latest are about the ever-increasing pay of the chief executives and chief financial officers, which rose to a total of £25.3m across 14 companies over the past year. Meanwhile, people living in England struggle with rising water bills and untreated sewage being discharged (often illegally) on to beaches and in to lakes, and companies such as Thames Water are on the brink of insolvency and want government backing.It’s not surprising that we’re in this situation: England’s water companies have long been accused of putting the interests of shareholders above those of customers. From their perspective, the privatisation of water has been an astounding success. Between 1991 and 2019, dividends to the shareholders of the parent companies totalled £57bn, which averages out to more than £2bn every year. The majority of these private parent companies are foreign-owned, so the profits aren’t even kept in Britain.Prof Devi Sridhar is chair of global public health at the University of Edinburgh Continue reading...
theguardian.com
Year of after-school care now costs £2,800 a child in parts of UK
Bills have jumped 42% in England over the past 10 years – and that excludes the cost of breakfast clubs and extracurricular activities Parents of primary schoolchildren in England will pay 42% more for after-school childcare this year than they did 10 years ago, with annual bills now exceeding more than £2,800 a child in some parts of the UK.A Guardian analysis of data collected by the children’s charity Coram has revealed that the annual cost of after-school care for children aged 5 to 11 in England has risen by 5% over the past year to £2,636. Continue reading...
cnbc.com
Dragon Ball Z theme park gets $7 billion green light
French President Emmanuel Macron and Saudi Arabia's Crown Prince Mohammed bin Salman agree on a $7 bn investment in the anime theme park.
bbc.co.uk
Iran says it is 'fully prepared' to counter widened US economic sanctions
The US calls its latest sanctions on Iran an "economic D-Day", but Tehran says it has a plan to address them.
bbc.co.uk
Burnham refuses to rule out tax rises in autumn Budget
Experts have warned that he and Chancellor John Healey will have little room to manoeuvre in their first Budget.
cnbc.com
Trump targets Iran’s trade lifelines — here are the countries most exposed
Washington's threat of "economic D-Day" collides with a small group of governments that account for most of what remains of Iran's foreign trade.
theguardian.com
Lloyds Bank is holding on to our urgently needed £5,500
We want our balance back, but we can’t access the money to pay for essential repairs and settle an electricity billLast November, Lloyds Bank informed me, in my role as treasurer of my parish church, that the church account was to be closed and that I should open a new business account instead. This can only be done online, but a fault with their system prevented me – and local branch staff – from doing so.At the branch staff’s suggestion, I opened the new account with a different bank in early March. Since then, I’ve been trying in vain to get Lloyds to transfer the balance from the closed account. Continue reading...
theguardian.com
‘Petty grievances’ and an alleged troublemaker: unsealed Murdoch court documents give rare glimpse into bitter succession battle
Rupert Murdoch said in newly released correspondence that it would be a disaster if his media empire fell into the ‘wrong hands’A year ago, Rupert Murdoch resolved the long-running fight over which of his children would control his sprawling media empire, ending a bitter legal battle and anointing his eldest son, Lachlan, as his successor.Now, court documents have offered a rare glimpse into the family’s clashes before the decision, revealing the patriarch’s view of son James as a troublemaker who had to be ousted from the business and detailing tensions between Murdoch’s four eldest children and their airing of “petty grievances” about their father. Continue reading...
bbc.co.uk
The Gurkha families fighting for their pensions
Gurkhas who retired before 1997 receive far less than their British Army counterparts.
bbc.co.uk
Drought leaves 'barely any apples' to make cider
Some orchards are harvesting just a 10th of their usual crop, and facing an uncertain future.
theguardian.com
‘Never seen this level of objection’: Scotland pushes back against datacentre boom
Holyrood ‘inching towards moratorium’ amid concerns over massive proposed developments in Auchtertool and beyondIn a village 21 miles north of Edinburgh, a real estate consultancy plans to build a datacentre larger than the village itself – 35 metres high, with an area larger than 100 football pitches.Billed as the second-biggest datacentre in the world, the development in Auchertool, Fife, has attracted 1,600 objections. Continue reading...
theguardian.com
Canadians do not seek a trade war – but nor will we be bullied by Donald Trump | Jen Gerson
A fundamental rupture in the values that have united North America is not a problem that can be wished away: this is a warning to the western allianceThe Canadians are exceedingly angry. I realise this can sometimes be difficult for foreigners to deduce, given our national struggle to express the full range of human emotion outside ice hockey riots. However, let me assure you that the prime minister Canadians saw take the stage on Saturday morning in the wake of the collapse in trade negotiations with the US was a Mark Carney practically vibrating with fury.“You’re at war when you get attacked. We got attacked,” he said, in a rare press conference that was as candid and clear as he ever tends to be. “That’s fine … We’ve got the reserves, we’ve got the resilience, we’ve got the plan, we’ve got the focus. We’re gonna respond, we’re going to focus on what we can control and what we’re going to build.”Jen Gerson is a Canadian commentator and co-founder of The Line. She lives in Calgary, Alberta Continue reading...
bbc.co.uk
Songs created by AI banned from Australia's music charts
The move comes weeks after a DJ admitted using AI to remix a Madonna song that topped the Australian charts.
theguardian.com
The other Post Office scandal: how organised crime launders money on the high street
Hundreds of millions of pounds of dirty money are being deposited at post offices every year. So why are the police reluctant to investigate the scale of the problem?Last chance to buy the summer issue of The Long Read magazine, now with 15% off. Click here to order Leicestershire police won’t say who first told them about Jigar Gheewala, but you can see why, once they had heard of him, they decided to find out more. Gheewala was unemployed, had no apparent income, yet lived in a £1.3m house and sent his three children to private school. “He was a declared bankrupt, with a bank account that was absolutely not reflective of what it should be,” said financial crime supervisor Laura Panter of Leicestershire police’s economic crime team. “That was our starting point.”Over the course of 2020, despite being on benefits, Gheewala’s bank account received more than £880,000 in cash in 200 different deposits. He was, it turned out, a money launderer, but not the kind you’ll see in the movies. Gheewala’s deposits had been made not in Liechtenstein or on Grand Cayman, but at various post office branches in Leicester, one thick wodge of banknotes after another. Continue reading...
cnbc.com
Porsche inks $1.5 billion deal for AI deployment with India’s largest IT services firm Tata Consultancy
Indian IT services giant TCS has secured a $1.5 billion contract to deploy AI for German sports carmaker Porsche.
bbc.co.uk
US-Canada trade war escalates as Trump threatens tariff hike on vehicles
Mark Carney accused Trump of wanting to "destroy" Canada's auto industry, and said he would only resume trade talks if the US comes with the "right attitude".
bbc.co.uk
How Canada could hit back to hurt the US economy - and Trump
What leverage does Canada, which sells about 70% of its exports to the US, actually have in this spiralling trade dispute?
theguardian.com
China is the biggest buyer of Iran’s oil. Could US sanctions threaten those ties?
The US has put the world on notice to cease doing business with Iran, but experts say Washington is wary China could retaliate against any sanctionsThe US has unveiled an expansion of sanctions that it says will cut off Iran’s economic lifeline but stopped short of the most punishing measures, instead putting the world on notice to cease doing business with the Islamic republic.Treasury secretary Scott Bessent warned other countries would need to sever business ties with Iran or risk being forced out of the dollar-based financial system. He previously urged cooperation from China – the biggest buyer of Iranian oil for several years – although the US blockade of Iran’s ports, renewed in mid-July, has already cut much of the Iranian oil flows to China. Continue reading...
bbc.co.uk
Nearly three million Teslas recalled in China over hidden door handles
Other brands affected by the recall include Chinese carmakers XPeng, Xiaomi and Geely.
bbc.co.uk
'What you see is what you pay' - why some US restaurants are banning tips
Tips are central to US dining culture but some eateries think that they are unfair.
bbc.co.uk
New 10p coin enters circulation - will you spot one?
The coin has been designed to feature King Charles III and a Scottish grouse close to extinction.
cnbc.com
CNBC's The China Connection newsletter: Robots need help learning human skills. These AI companies are rushing to meet the demand
Humanoid robots still take a long time to complete human tasks. Several startups in China are trying different ways to collect and use training data better.
bbc.co.uk
Manga-inspired theme park to be built near Paris
The construction of three new parks was given the green light after a €6bn investment from Saudi Arabia.
theguardian.com
Problems brewing for the proper pint as Camra membership falls
Cost of living has hit campaign group while multinationals are threatening to squeeze out independent breweriesFor centuries, the wooden real ale pump has been the hallmark of a good British boozer. But now problems are brewing for the proper pint, as the Campaign for Real Ale has seen its membership sink to an eight-year low and its accounts show it is firmly in the red, making an £800,000 loss last year.Real ale is a traditional draught cask beer, a “living” product that is produced and stored in its cask. It differs from a cold, fizzy lager, in which the yeast is killed and carbon dioxide is added. Real ale contains live yeast so it continues fermenting until it is served. Continue reading...
bbc.co.uk
Graduate job vacancies drop by almost 50% in a year, survey suggests
Job site Adzuna said the number of graduate vacancies was the lowest since 2016
bbc.co.uk
Rail companies sued for £5m over oil spill caused by derailment
More than 400,000 litres of fuel spilled in the area causing an "environmental disaster".
theguardian.com
Households in Great Britain ‘could owe energy suppliers £7bn by end of year’
After higher prices for winter kick in, energy debt unpaid for more than 30 days likely to rise, says Energy UKHouseholds in Great Britain could owe their energy suppliers as much as £7bn by the end of the year after higher gas and electricity prices forecast for the winter kick in, an industry group is warning.Domestic energy debt and arrears climbed by about £500m over the past year to a record £6bn at the end of June as the Middle East conflict continued to stoke rising gas market prices. Continue reading...
bbc.co.uk
Coin hidden in 1971 earns finder free pint of beer
The card, discovered by Ellie Mead in Bicester, promised "one pint best beer if penny returned".
theguardian.com
Netflix, Disney+ and Amazon price rises in western Europe ‘highest in world’
World’s largest streaming services have also increased subscription costs repeatedly in US, research findsBusiness live – latest updatesSubscribers to Netflix, Disney+ and Amazon Prime Video in western Europe have faced higher price increases than in any other market in recent years, according to research.Over the past four years the world’s largest subscription video streaming services have dramatically changed their business models introducing lower-priced, basic advertising tiers to attract new subscribers, while also increasingly monetising users willing to pay more for a premium experience. Continue reading...
cnbc.com
Bessent could tap near $1 trillion Treasury General Account to fund bond buybacks, sources said
Using the TGA would provide the Treasury with considerable firepower to influence long-term bond yields.
theguardian.com
Up to £464m ‘moved through more than 3,000 UK high street shell companies’
Research shows firms are branded as beauty and convenience but apparently operate in money-laundering and terrorist financing sectorsUp to £464m has “moved through” more than 3,000 UK shell companies branded as beauty and convenience stores but apparently operating in the money-laundering and terrorist financing sectors, a new analysis sets out.The companies – listed as hairdressers, barber shops and salons, on the one hand, or mini-marts and corner shops on the other – show “remarkably similar lifespans” of about six months despite their seemingly different purposes. Continue reading...
theguardian.com
The treasury bond mess: is this the demise of the US as a safe haven?
The US is scooping up treasury bonds in an effort to raise their price and push yields down – but it’s not workingThe bond market is driving the Trump administration crazy. Last week, the treasury secretary, Scott Bessent, announced that the government would sharply ramp up its purchase of treasury bonds, in an effort to raise their price and thus push down their yield, which amounts to the interest rate the government pays on its debt.It didn’t quite work as planned. Yields on treasurys fell after Bessent’s bond market intervention but soon bounced back. By Friday afternoon, the yield on the 10-year treasury was back near where it was before the secretary’s announcement. The yield on the 30-year bond was again trading around its highest level in 20 years or more. Continue reading...
bbc.co.uk
'Half my business will be gone' - firms in Canada and US fear trade war
Business owners in both countries are navigating uncertainty and worry as the tit-for-tat import taxes ratchet up.
bbc.co.uk
Pubs and hotels could see business rates reformed after review
The review of how rates are calculated in England and Wales could lead to reform of the system.
theguardian.com
Can Burnham justify giving the go ahead to oil drilling? Yes, but these must be the conditions | Michael Jacobs
Carbon capture and storage could make the Rosebank site compatible with UK net zero commitments – if its owners are willing to pay the priceThe British government must soon decide whether it should give consent to two oil and gasfields, Rosebank in the North Atlantic and Jackdaw in the North Sea. Amid both insecurity of energy supplies and deadly evidence of the climate crisis, the prime minister, Andy Burnham, is facing pressure from the oil and gas industry and unions on one side, and environmentalists on the other.Labour’s manifesto commitment not to approve new drilling licences offers little help, because the fields already have licences, granted by the previous Conservative government in 2022 and 2023. But last year, Edinburgh’s court of session ruled that the environmental impact assessments on which this decision relied were unlawful. The Conservative government had, the court ruled, failed to include the emissions generated when the oil and gas from the fields is burned. The court allowed work to continue on the fields, but a new assessment had to be done and approval sought again.Michael Jacobs is professor of political economy at the University of Sheffield and a former energy and climate change adviser to Gordon Brown when he was prime minister Continue reading...
theguardian.com
‘It’s absolutely criminal’: US tipping culture has reached the UK – and is causing chaos
Service charges used to be a matter of choice, but now consumers feel obliged to pay them for even a cup of coffee. How do we navigate this minefield and who is really profiting?In a London pub, Greg Double was brutally confronted with the reality of Britain’s evolving tipping culture. “I was annoyed about the pint being eight quid, but then when you put service on top, it’s absolutely criminal,” he says. In the past, you might have told the bar staff to keep the change or have a “drink” on you, but since when did we routinely tip in pubs? Or coffee shops? Or, worst of all, at self-service machines? Tip creep is happening.Tipping was awkward enough in the UK when the general rule was 10% at a restaurant, plus anxiety about whether you should tip the hairdresser, babysitter or food-delivery driver. Now, with tipping suggested ever more frequently, US-style, it has become a minefield to Britons. The amounts edge higher – in fancier London restaurants, a 15% service charge is relatively commonplace. And it’s often asked for – in coffee shops for example, when you pay – before any service is delivered. Continue reading...
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Fast-fashion giant Shein sets cut-price $27bn valuation for Hong Kong IPO
China-based retailer swung to $99m loss in first quarter and faces scrutiny over its environmental footprintBusiness live – latest updatesShein, which built a fast-fashion empire on what seemed like impossibly low prices, has been forced to lower its own valuation in a cut-price stock market float, after falling into the red earlier this year.The online retailer will list on the Hong Kong stock exchange on 1 September at a valuation of close to $27bn (£19.8bn), significantly down from a near-$100bn private market peak four years ago. Continue reading...
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Shein aims for almost $27bn valuation in stock market debut
The fast-fashion giant's shares are due to start trading in Hong Kong on 1 September.
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CrossCountry train services resume after outage
It follows major national rail disruption at the weekend.
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How can I convince NHS pensions that I am not dead?
It has not paid me for months and I am in severe financial distress, and apart from my husband while I try to sort it outI stopped receiving my NHS pension in May and, when I rang to ask why, I was informed that I was deceased.I have repeatedly called to no avail and my emails have received auto-generated responses. Continue reading...
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'I didn't speak the Queen's English': Why people worry about their accents
A survey on attitudes towards accents suggests that so-called "accent bias" is still an issue in many workplaces.
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How to get £2,000 to play computer games at university
Roehampton University offers students a year;y scholarship to play esports alongside their studies.
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Business Daily
European governments and businesses are taking a tougher line on trade with China
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Jumpy bond markets make it clear: Trump risks driving US into debt crisis | Heather Stewart
Treasury secretary Scott Bessent’s attempt to calm bond markets is a sign of weakness not strength“Look, there’s nothing magic about that $40tn number,” the US Treasury secretary, Scott Bessent, told CNBC insouciantly last week, as the country’s debt mountain surpassed another bleak record.Yet Bessent’s decision to intervene in government bond markets in an effort to combat soaring yields belied his studied calm in TV interviews – and reignited fears the US may be on the road to a debt crisis. Continue reading...
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Struggling households need more help with bills, energy industry says
Industry body Energy UK says the current support for households most in need does not go far enough.
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‘The line’s running half-empty’: Llanwern steelworks feels the heat from cheap steel imports
New quotas to protect UK firms and jobs appear to be having opposite effect in products such as galvanised steelAt Tata Steel’s factory in Llanwern, south Wales, production lines that should be running full-time are now falling quiet for parts of the day, with workers being put on to maintenance and cleaning work while machines sit idle.There aren’t enough orders to keep them running all the time, the company says, because of a surge of cheap steel coming from Asian countries that is threatening the viability of several UK sites that make similar products, and risk hundreds of jobs. Continue reading...
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‘Pretty shambolic’: new EU border checks cause stress for UK travellers
Britons report that EES digital entry and exit system has led to frustration, visa mix-ups and long queuesOn top of fears about extreme heat and possible jet fuel shortages, Britons planning summer holidays in the EU this year had another thing to worry about – long queues and waiting times caused by the bloc’s new border checks.The EU digital entry and exit system (EES), which requires non-EU citizens to register and be photographed and fingerprinted on arrival and departure from the Schengen zone, has been technically in full force since April after launching last autumn, but has been beset by teething problems. Continue reading...
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First Bus bans under-16s in Stoke-on-Trent travelling alone after 6pm after disorder
Company says decision comes after spate of antisocial behaviour since free travel scheme was introducedFor some, it is a quotidian nuisance that inevitably occurs when you are in the vicinity of teenagers. For others, it is an expression of modern-day lawlessness among young people.Whatever view you take, antisocial behaviour on public transport has become a hot debate – and with the introduction of free bus travel for kids aged 5 to 15 across England during August, matters have come to a head in Staffordshire. Continue reading...
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Drill, Burnham, drill? The oil basin that is a totem for Trump – and a headache for Britain’s new PM
North Sea oil, once the driving force of the UK economy, may be dwindling but it remains a symbol of prestige and a rich resource for political debateWhen oil was first discovered off the north-east coast of Scotland in September 1969, industry folklore has it that the duty superintendent on the rig carefully poured it into a pickle jar commandeered from the canteen and took it back to Amoco’s Great Yarmouth office in Norfolk. There, it was emptied into an ash tray, sniffed and then set alight.From that modest start, North Sea oil – as the huge basin of oil and gas reserves quickly became known – emerged as a driving force of the British economy and a symbol of national power and renewal as the UK emerged from the Opec oil crisis. Continue reading...
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‘Penchant for bling’: can Sports Direct’s Mike Ashley take a bigger slice of luxury retail?
Frasers billionaire bought Harvey Nichols and increased Hugo Boss stake despite tough times for high-end storesWhat billionaire doesn’t love to splash the cash on a luxury item? Some may buy watches or yachts, but Sports Direct founder Mike Ashley has been snapping up entire brands.Harvey Nichols is the latest bauble to drop into his shopping basket after his company bought the Knightsbridge department store out of administration earlier this month. It sits beside a large slice of Hugo Boss, a chunk of Mulberry, a snippet of Burberry, the remains of Agent Provocateur and the entire Flannels and House of Fraser chains. Continue reading...
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Economic adviser O'Neill rules out government job but backs PM's devolution plans
Lord O'Neill, former chief economist at Goldman Sachs, was tipped to become Andy Burnham's chief economic adviser.
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Watch: How does the US national debt affect consumers around the world?
The debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), Treasury figures show.
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Couples share their biggest money disagreements
Candles, haircuts, a Tesla... this week we're asking couples in London: "What's the biggest money disagreement in your relationship?"
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How landscape gardening is being electrified
The switch to quieter electric equipment is not going as fast as some would like.
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Little Moons co-founder: Don't wait for your product to be perfect
The mochi ice cream company co-founder shares her top tips, job highs and lows, and what a perfect Sunday looks like.
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The critical tech staying safe by going underground
The war in Ukraine has spurred people to consider putting vital infrastructure underground.
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Protein or pickled garlic? What's new in ice cream
There's a constant battle in ice cream to come up with new flavours and to keep costs down.
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Why Japanese firms are being so slow to use AI
Japanese risk aversion and conservatism blamed for slow AI take-up by the country's business sector.
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Tokenomics: Why making AI pay is tricky
Buyers of AI services are struggling to control costs and sellers are not sure how much to charge.
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'I started in my 20s and made £8,000': Why women are often better investors than men
Women can make higher returns but only about a quarter of UK women have investments, compared with about 40% of men.
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'You could smell someone' who worked at Raleigh
The company was more than just a employer. For years, it was part of the fabric of Nottingham.
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Why airlines are warning over lithium-ion batteries
The airline industry wants passengers to be careful when travelling with lithium ion batteries.
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Argos is getting a makeover - but can it attract new shoppers?
The retailer has been around for 50 years but struggled to compete with newer rivals such as Amazon. Can its new owners turn it around?
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Why the UK is dithering over what to do about e-scooters
Why is it taking so long for the government to regulate them, and what are the consequences of delay?
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Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
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The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
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How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
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The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
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